174k views
2 votes
What is economy? Why is it important for you to understand it?​

1 Answer

1 vote

Answer:

An economy is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. In general, it is defined 'as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources'

Step-by-step explanation:

Economics plays a role in our everyday life. Studying economics enables us to understand past, future and current models, and apply them to societies, governments, businesses and individuals.

User Olonge
by
8.5k points

No related questions found